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Inside the CFPB

July 1, 2019

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Experts Divided on ‘Abuse’ Standards

Industry attorneys are starkly divided on whether and how the CFPB should define the meaning of “abusive” acts and practices. Read More

CFPB Constitutionality Challenge May Reach SCOTUS

Seila Law has now asked the Supreme Court to decide whether the CFPB’s structure is constitutional. The law firm lost before the U.S. Court of Appeals for the Ninth Circuit on the same issue. Read More

States Show Continued Interest in Fair Servicing

Mortgage servicers said there was no decrease in state examinations of fair servicing and, in fact, states' new focus is on the disparate-impact theory. Read More

First Merchants Bank Settles Redlining Dispute With DOJ

First Merchants Bank has reached a settlement with the Justice Department to resolve allegations of discriminatory lending by redlining predominantly African-American neighborhoods. Read More

Controversial CFPB Official Joins HUD, Dems Concerned

HUD has offered a job to Eric Blankenstein, a former CFPB official who stirred controversy over his racism-tinged blog posting more than a decade ago. Democrats are concerned about the impact his appointment will have. Read More

FDCPA Statute of Limitations Should Run Longer?

The CFPB under the leadership of Director Kathy Kraninger filed its first amicus brief, weighing in on issues related to the one-year statute of limitations under the Fair Debt Collection Practices Act. Read More

Congress Questions Bias in Lending Algorithms

The House Financial Services Committee’s task force on artificial intelligence recently held its first hearing. Lawmakers asked about ways to make sure that algorithms don’t discriminate. Read More

Maine Adds New Mortgage Servicing Requirements

Maine has created a new requirement for mortgage servicers that goes further than the CFPB’s rules. Read More

Comment Period on HMDA Data Points Extended

The CFPB extended the comment period by three months on its advanced notice of proposed rule-making regarding whether to revise additional HMDA data points added under its 2015 rule. Read More

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